n Without Prejudice - Jury still out on Mauritius residence status : international law
|Article Title||Jury still out on Mauritius residence status : international law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Oct 2008|
A person emigrating from South Africa is allowed to transfer out of the country certain limited amounts. The remainder of their South African assets become "blocked" and can only be externalised against payment by the emigrant of a 10% exchange control levy. What is more, the Reserve Bank (SARB) only allows the transfer of blocked funds once the emigrant has obtained permanent residence status in a foreign jurisdiction.
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